EV subsidiary Ola Electric raises investment from Vijay Shekhar Sharma, Farhan Akhtar amongst others

• ByStartupStory     |    March 8, 2022

The EV subsidiary of the mobility giant Ola, Ola Electric has raised a consolidated sum of INR 398 crore in a financing round led by Temasek. The round also saw participation from Edelweiss, IIFL, Vijay Shekhar Sharma’s VSS Investco and others.

It is interesting to note that the financing round also saw the glimmering appearance of notable figures from the Hindi film industry including the likes of acclaimed director Zoya Akhtar, Actor and Director Farhan Akhtar as well as producer Ritesh Sidhwani.

Ola Electric has allotted 371 Series C preference shares to the investors at an issue price of INR 1,07,34,870 per share to raise INR 398.3 crore in this round. The recent round of funding has raised the valuation of the company to $2.72 billion.

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